Within this transaction, Mohammad Murad took over the entire package of Coldwell Banker Affiliates of Romania, the largest player on the real estate consultancy segment, from Alexandru Benga (the owner of 75 pct of the shares) and from Valentin Ilie, the company’s CEO and the owner of 25 pct of the company. The value of the transaction, including the takeover of the master-franchise, was not disclosed.
“The context of the transaction was that the old shareholders intended to exit the business and the buyer firstly wanted to obtain a synergy at the asset management level, in order to externalise the operation of its real estate assets to a company with a very good expertise on this segment - Coldwell Banker Affiliates of Romania administrating lots of entire real estate portfolios, including the ones of Telekom Romania and UniCredit Tiriac Bank”, has declared for wall-street.ro Valentin Ilie, CEO Coldwell Banker Affilates of Romania. Moreover, the new owner wanted to obtain a constant revenue from operating a master-franchise.
“We are one of the largest players in construction and real estate development sectors. This takeover completes at the operational level the businesses of our family’s group. We will bring a new approach in real estate together with the Coldwell Banker team and we are preparing new projects on residential segment. We are going to complete the real estate developments in Mamaia – Navodari, where we are going to sell 300 apartments, fully furnished. Moreover, I see a huge potential in three large areas in Bucharest: Sisesti, Splaiul Independenti and Unirii. I am very surprised by the current potential of the residential segment. The real estate market started to recover in an unusual way”, has declared for wall-street.ro the businessman Mohammad Murad.
He has declared that the negotiations for the takeover of Coldwell Banker Affilates of Romania lad lasted three months.
Apart from the change in shareholding, the business remains unchanged for Coldwell Banker Affiliates of Romania, says Valentin Ilie, which will continue in the CEO position for unlimited time. “We have the same good teams on residential, property management, valuation or Real Estate Owned Management and will continue to be the same consultants working together with developers or banks, especially as the real estate market already entered a more positive period. There were long crises years, we came with a new thinking in the market and didn’t witness much of the period when money was made much easier and our approach and operating mode could be seen year after year in the results we obtained,” has added Valentin Ilie, the person responsible for bringing the master-franchise Coldwell Banker in Romania. (Source: wall-street.ro)